SolarPulse
Part of the group
8 companies in 2 countries
Annual accounts 2025
full format, filed on 07-07-2026, 24 days before the deadline€1.2m
▲ 50.4%
€688,941
▲ 152%
€367,014
▲ 15×
€582,213
▼ 14.2%
1.9%
▲ 0.1 percentage points
1.54
▼ 0.41
The turnover shown is an estimate from the gross margin.
Turnover ≈ €2.1m. Estimated: probably between €1.4m and €3.5m.
Balance sheet
balance sheet total €3.7m on 31-12-2025What the company ownsHow it is paid for
in euro
in €m
Position in the sector
1.9%
Higher than 16% of 352 companies in 2025.
1.54
Higher than 57% of 341 companies in 2025.
10.0%
Higher than 83% of 343 companies in 2025.
SolarPulse
Middle half of the sector
80% of the sector
Full accounts in electricity, gas and steam (NACE 35)
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||
20/58 |
3.7m | 4.0m | 4.8m | 5.3m | 5.7m | 6.2m | 6.5m | 7.1m | 8.8m | 9.1m | 9.7m | 9.7m | 10.4m | 10.4m | 11.0m | 11.0m | |
21/28 |
2.0m | 2.6m | 3.1m | 3.7m | 4.2m | 4.8m | 5.3m | 5.8m | 6.4m | 6.9m | 7.5m | 8.0m | 8.6m | 9.1m | 9.7m | 10.5m | |
21 |
- | - | - | - | - | - | - | - | - | - | - | 17,550 | 29,250 | 22,050 | 24,750 | 315,659 | |
22/27 |
2.0m | 2.6m | 3.1m | 3.7m | 4.2m | 4.8m | 5.3m | 5.8m | 6.4m | 6.9m | 7.5m | 8.0m | 8.6m | 9.1m | 9.6m | 10.2m | |
23 |
2.0m | 2.6m | 3.1m | 3.7m | 4.2m | 4.8m | 5.3m | 5.8m | 6.4m | 6.9m | 7.5m | 8.0m | 8.6m | 9.1m | 9.6m | 10.2m | |
29/58 |
1.7m | 1.4m | 1.7m | 1.6m | 1.5m | 1.4m | 1.3m | 1.3m | 2.4m | 2.1m | 2.2m | 1.6m | 1.8m | 1.3m | 1.3m | 493,134 | |
40/41 |
138,776 | 138,989 | 163,342 | 46,088 | 84,085 | 77,885 | 158,432 | 110,265 | 311,920 | 336,050 | 307,566 | 116,443 | 64,660 | 126,300 | 168,567 | 160,932 | |
40 |
41,950 | 44,850 | 160,203 | 45,440 | 67,604 | 77,346 | 150,493 | 95,604 | 311,897 | 336,050 | 307,389 | 115,031 | 60,536 | 123,217 | 166,901 | 94,114 | |
41 |
96,826 | 94,139 | 3,139 | 648 | 16,480 | 538 | 7,939 | 14,661 | 23 | - | 177 | 1,413 | 4,124 | 3,083 | 1,665 | 66,818 | |
50/53 |
350,087 | 350,085 | 1.0m | 84 | 84 | 84 | 84 | 84 | 1.2m | 1.2m | - | 250,000 | 250,000 | 650,000 | 650,000 | - | |
54/58 |
1.2m | 905,832 | 505,625 | 1.5m | 1.4m | 1.3m | 1.1m | 1.2m | 891,296 | 627,676 | 1.9m | 1.3m | 1.5m | 518,825 | 486,908 | 314,938 | |
490/1 |
1,458 | - | 0 | 48,750 | - | 0 | 819 | 16,120 | 15,994 | 15,292 | - | 47 | - | 69 | 17,741 | 17,264 | |
| Balance sheet: equity and liabilities | |||||||||||||||||
10/49 |
3.7m | 4.0m | 4.8m | 5.3m | 5.7m | 6.2m | 6.5m | 7.1m | 8.8m | 9.1m | 9.7m | 9.7m | 10.4m | 10.4m | 11.0m | 11.0m | |
10/15 |
68,200 | 68,200 | 68,200 | 68,200 | 68,200 | 70,342 | 68,828 | 68,425 | 1.7m | 1.7m | 1.7m | 1.7m | 1.4m | 1.9m | 2.2m | 2.0m | |
10/11 |
62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 2.3m | 2.3m | |
10 |
62,000 | 62,000 | 62,000 | 62,000 | 62,000 | - | - | - | - | - | - | - | - | - | - | - | |
100 |
62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 1.6m | 2.3m | 2.3m | |
13 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 78,535 | 63,254 | 47,384 | 30,910 | 30,910 | 11,800 | - | - | |
130/1 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | - | - | - | - | - | - | - | - | - | - | |
130 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 78,535 | 63,254 | 47,384 | 30,910 | 30,910 | 11,800 | - | - | |
14 |
0 | 0 | 0 | 0 | 0 | 2,142 | 628 | 225 | 292 | -13,495 | 12,311 | -671 | -237,081 | 224,205 | -60,527 | -329,324 | |
17/49 |
3.6m | 3.9m | 4.7m | 5.2m | 5.6m | 6.1m | 6.5m | 7.1m | 7.0m | 7.4m | 7.9m | 8.0m | 8.9m | 8.5m | 8.8m | 9.1m | |
17 |
2.5m | 3.2m | 3.7m | 4.3m | 4.8m | 5.3m | 5.7m | 6.2m | 6.6m | 6.9m | 7.3m | 7.6m | 7.9m | 8.2m | 8.5m | 8.8m | |
170/4 |
2.5m | 3.2m | 3.7m | 4.3m | 4.8m | 5.3m | 5.7m | 6.2m | 6.6m | 6.9m | 7.3m | 7.6m | 7.9m | 8.2m | 8.5m | 8.8m | |
42/48 |
1.1m | 716,535 | 972,767 | 935,640 | 819,589 | 817,027 | 732,762 | 903,774 | 452,104 | 412,027 | 648,231 | 335,235 | 952,092 | 284,997 | 269,013 | 298,019 | |
42 |
624,720 | 586,416 | 550,848 | 517,104 | 484,272 | 454,176 | 426,816 | 400,368 | 375,744 | 352,032 | 331,056 | 310,992 | 290,928 | 273,600 | 256,272 | 240,768 | |
43 |
- | - | - | - | - | - | - | - | - | 112 | 61 | 18 | 6 | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | - | 112 | 61 | 18 | 6 | - | - | - | |
44 |
32,720 | 68,649 | 97,581 | 38,956 | 33,524 | 3,298 | 33,604 | 45,694 | 23,775 | 37,315 | 10,766 | 15,690 | 41,967 | 4,664 | 4,594 | 57,251 | |
440/4 |
32,720 | 68,649 | 97,581 | 38,956 | 33,524 | 3,298 | 33,604 | 45,694 | 23,775 | 37,315 | 10,766 | 15,690 | 41,967 | 4,664 | 4,594 | 57,251 | |
45 |
52,194 | 36,888 | 45,803 | 60,733 | 48,902 | 44,553 | 7,363 | 748 | 52,585 | 22,568 | 6,348 | 8,535 | 19,074 | 6,733 | 8,147 | - | |
450/3 |
52,194 | 36,888 | 45,803 | 60,733 | 48,902 | 44,553 | 7,363 | 748 | 52,585 | 22,568 | 6,348 | 8,535 | 19,074 | 6,733 | 8,147 | - | |
47/48 |
367,014 | 24,581 | 278,535 | 318,847 | 252,891 | 315,000 | 264,979 | 456,964 | - | - | 300,000 | - | 600,119 | - | - | - | |
492/3 |
0 | 20,075 | 210 | 0 | 1,462 | 1,439 | - | 299 | - | - | - | 16,381 | 15,233 | 15,233 | - | - | |
| Income statement | |||||||||||||||||
9900 |
1.2m | 823,481 | 1.2m | 1.3m | 1.2m | 1.3m | 1.3m | 1.4m | 1.3m | 1.3m | 1.4m | 1.3m | 1.2m | 1.3m | 1.4m | 1.1m | |
630 |
548,637 | 548,637 | 548,637 | 548,637 | 548,637 | 547,291 | 546,907 | 546,907 | 546,907 | 546,907 | 545,655 | 545,655 | 545,655 | 545,655 | 545,655 | 898,059 | |
640/8 |
1,340 | 1,254 | 1,202 | 1,100 | 1,098 | 1,097 | 1,001 | 998 | 995 | 993 | 2,199 | 992 | 990 | 1,161 | 767 | 808 | |
66A |
- | - | - | - | - | - | - | 2,087 | - | - | - | - | - | - | - | - | |
9901 |
688,941 | 273,590 | 657,903 | 728,796 | 673,807 | 796,611 | 769,094 | 809,163 | 756,057 | 763,501 | 807,270 | 719,468 | 668,641 | 760,028 | 837,847 | 248,721 | |
75/76B |
11,657 | 24,444 | 5,414 | 0 | 0 | 0 | 0 | 294 | 128 | 885 | 708 | 1,567 | 4,164 | 14,035 | 2,502 | 2,204 | |
75 |
11,657 | 24,444 | 5,414 | 0 | 0 | 0 | 0 | 294 | 128 | 885 | 708 | 1,567 | 4,164 | 14,035 | 2,502 | 2,204 | |
65/66B |
208,897 | 265,259 | 291,957 | 303,211 | 339,475 | 373,635 | 391,405 | 424,059 | 437,324 | 459,053 | 478,487 | 484,626 | 514,824 | 538,057 | 571,552 | 580,249 | |
65 |
208,897 | 265,259 | 291,957 | 303,211 | 339,475 | 373,635 | 391,405 | 424,059 | 437,324 | 459,053 | 478,487 | 484,626 | 514,824 | 538,057 | 571,552 | 580,249 | |
9903 |
491,701 | 32,775 | 371,360 | 425,584 | 334,332 | 422,976 | 377,689 | 385,398 | 318,862 | 305,334 | 329,490 | 236,409 | 157,982 | 236,005 | 268,797 | -329,324 | |
67/77 |
124,687 | 8,194 | 92,840 | 106,738 | 83,583 | 106,462 | 112,286 | 800 | -239 | 239 | - | - | - | - | - | - | |
9904 |
367,014 | 24,581 | 278,520 | 318,847 | 250,749 | 316,514 | 265,403 | 384,598 | 319,100 | 305,095 | 329,490 | 236,409 | 157,982 | 236,005 | 268,797 | -329,324 | |
9905 |
367,014 | 24,581 | 278,520 | 318,847 | 250,749 | 316,514 | 265,403 | 384,598 | 319,100 | 305,095 | 329,490 | 236,409 | 157,982 | 236,005 | 268,797 | -329,324 | |
| Appropriation of the result | |||||||||||||||||
9906 |
367,014 | 24,581 | 278,520 | 318,847 | 252,891 | 317,142 | 265,628 | 384,890 | 305,605 | 317,406 | 328,819 | -671 | 382,187 | 175,478 | -60,527 | -329,324 | |
14P |
- | - | - | 0 | 2,142 | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | 72,335 | - | - | - | - | - | 60,527 | - | - | |
691/2 |
- | - | - | - | - | - | - | - | 15,280 | 15,870 | 16,475 | - | 19,109 | 11,800 | - | - | |
6920 |
- | - | - | - | - | - | - | - | 15,280 | 15,870 | 16,475 | - | 19,109 | 11,800 | - | - | |
694/7 |
367,014 | 24,581 | 278,520 | 318,847 | 252,891 | 315,000 | 265,000 | 457,000 | 290,033 | 315,031 | 300,033 | - | 600,158 | - | - | - | |
694 |
367,014 | 24,581 | 278,520 | 318,847 | 252,891 | 315,000 | 265,000 | 457,000 | 290,033 | 315,031 | 300,033 | - | 600,158 | - | - | - | |
| Document | |||||||||||||||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 07-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 07-07-2026 | 2026-00295508 | |
| 31-12-2024 | abbreviated format | 30-06-2025 | 2025-00211697 | |
| 31-12-2023 | abbreviated format | 20-06-2024 | 2024-00171668 | |
| 31-12-2022 | abbreviated format | 07-07-2023 | 2023-00222414 | |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20127750 | |
| 31-12-2020 | abbreviated format | 13-07-2021 | 2021-36600409 | |
| 31-12-2019 | abbreviated format | 26-03-2020 | 2020-07800170 | |
| 31-12-2018 | abbreviated format | 14-05-2019 | 2019-13100089 | |
| 31-12-2017 | abbreviated format | 04-07-2018 | 2018-29300575 | |
| 31-12-2016 | abbreviated format | 12-07-2017 | 2017-32000091 | |
| 31-12-2015 | abbreviated format | 03-05-2016 | 2016-11500086 | |
| 31-12-2014 | abbreviated format | 19-08-2015 | 2015-44400489 | |
| 31-12-2013 | abbreviated format | 14-08-2014 | 2014-42500426 | |
| 31-12-2012 | abbreviated format | 22-08-2013 | 2013-45100156 | |
| 31-12-2011 | abbreviated format | 20-08-2012 | 2012-42400428 | |
| 31-12-2010 | abbreviated format | 19-08-2011 | 2011-42100173 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1.2m | 822,227 | 1.2m | 1.3m | 1.2m | 1.3m | 1.3m | 1.4m | 1.3m | 1.3m | 1.4m | 1.3m | 1.2m | 1.3m | 1.4m | 1.1m | ||
| 915,651 | 573,218 | 827,157 | 867,483 | 799,386 | 863,805 | 812,310 | 931,505 | 866,007 | 852,002 | 875,146 | 782,065 | 703,637 | 781,661 | 814,452 | 568,735 | ||
| 0 | 0 | 0 | 0 | 0 | 14,593 | 0 | 0 | 0 | 12,517 | -17,550 | 17,550 | 7,200 | 22,050 | 24,750 | 11.2m | ||
| 262,709 | 400,207 | -1.0m | 135,367 | 58,608 | 247,106 | -83,683 | 290,309 | 263,620 | -1.3m | 617,146 | -184,768 | 934,156 | 31,917 | 171,970 | - | ||
| 582,213 | 678,371 | 696,285 | 698,287 | 668,216 | 605,971 | 524,495 | 404,300 | 1.9m | 1.7m | 1.5m | 1.3m | 815,548 | 1.0m | 1.1m | 195,114 | ||
| 1.9% | 1.7% | 1.4% | 1.3% | 1.2% | 1.1% | 1.1% | 1.0% | 19.7% | 18.8% | 17.7% | 17.4% | 13.9% | 18.1% | 20.2% | 17.7% | ||
| 1.54 | 1.95 | 1.72 | 1.75 | 1.82 | 1.74 | 1.72 | 1.45 | 5.24 | 5.17 | 3.38 | 4.88 | 1.86 | 4.54 | 4.92 | 1.65 | ||
| 52.87 | 57.04 | 69.11 | 76.64 | 82.54 | 86.87 | 94.14 | - | 4.07 | 4.33 | 4.65 | 4.75 | 6.17 | 4.53 | 3.95 | 4.65 | ||
| 538.1% | 36.0% | 408.4% | 467.5% | 367.7% | 450.0% | 385.6% | 562.1% | 18.5% | 18.0% | 19.3% | 14.1% | 10.9% | 12.5% | 12.1% | -16.9% | ||
| 10.0% | 0.6% | 5.8% | 6.0% | 4.4% | 5.1% | 4.1% | 5.4% | 3.6% | 3.4% | 3.4% | 2.4% | 1.5% | 2.3% | 2.4% | -3.0% | ||
| 5.92 | 3.10 | 4.13 | 4.21 | 3.60 | - | - | - | - | - | - | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €3.2m | €3.7m | €4.3m | - | - |
| Mortgages, amount registered | €927,000 | €927,000 | €927,000 | €927,000 | €927,000 |
| Carrying value of the mortgaged assets | €2.0m | €2.6m | €3.1m | €3.7m | €4.2m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Insights on SolarPulse
The operating result for 2025 is 152% higher than in 2024 and the highest since 2022. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 98.3% to 98.1%. Debt is lower.
Large changes and their cause
- 2025 Net result +1,393% on 2024. The accounts now follow the full format, last year the abbreviated format.